continuation of directorship

This query is : Resolved

C.A Alok Mukherjee (Querist)
Follow

10 October 2009 Say Mr X is a managing director of a public limited company who will be re retiring after the tenure of five years, now just after the date of his retirement can he continue as ordinary director upto the next general meeting for confirmation of his re-appointment as managing director?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
Follow

11 October 2009 Yes he can be continues. However you have to file form 32 as additional director from the date of completion of 5Years till the date of next agm.

Ankur Garg

Ankur Garg (Expert)
Follow

13 October 2009 Yes.

After finishing his term as MD he can very much continue his term as director.
No need to file form-32 for additional director. Reason being you are not required to appoint him as additional director as after completion of 5 year term his MD ship is over but he is still a regular director.

Regards

Upgrade to CAclubindia Pro. Subscribe Now!